- Cannabis sales in California, the world’s largest market, are expected to reach $7.7 billion by 2022, with an extended economic impact of almost $15 billion
- TransCanna Holdings has established the beginnings of a statewide California distribution network with its hub in Modesto and a satellite near San Bernardino and Los Angeles
- The company is rapidly pursuing a variety of state and local licenses for the facilities as part of a plan to provide up to 15 “reliable, consistent branded products”
- TransCanna’s in-process acquisition of marketing agency GoodFellas will provide it with brands that include the already competitive pre-rolls of Daily Cannabis Brands, which the company expects to distribute from its satellite facility
TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) is continuing its explosive burst of cannabis distribution empire building efforts, launched when it completed its IPO on the Canadian Securities Exchange in January. In addition to its April acquisition of a three-story, 196,000-square-foot Northern California facility that will serve as the hub for its operations, TransCanna is sub-leasing a 10,000-square-foot satellite facility in the Southern California city of Adelanto, as well as pursuing the necessary licensing and increasing its portfolio of brands.
“As we’ve represented since the commencement of TransCanna, it’s crucial to have a main facility, which we now have with the acquisition of the 196,000 square foot vertically integrated facility in Modesto, and up to five satellite facilities located strategically throughout the state,” CEO Jim Pakulis stated in a…
NOTE TO INVESTORS: The latest news and updates relating to TCAN are available in the company’s newsroom at http://nnw.fm/TCAN
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